News
NIMC Alerts Nigerians on Dangers of Selling Their NINs
The National Identity Management Commission (NIMC) has issued a stern warning to Nigerians, urging them not to trade their National Identification Numbers (NINs) for cash or disclose them to unauthorized individuals or organizations.
This warning comes after reports surfaced that some individuals in Anambra State were being enticed to exchange their NINs for money—an action the Commission described as illegal and punishable under several national laws, including the NIMC Act, the Data Protection Act, and the Cybercrime Act.
In an official statement released by Dr. Kayode Adegoke, the Commission’s Head of Corporate Communications, NIMC confirmed that it had received intelligence on these illegal activities. Working in partnership with the Department of State Services (DSS) and the Nigeria Police Force, suspects involved in the illicit collection of NINs have been arrested and are currently being investigated.
According to the statement, no private entity or government agency is permitted to collect NINs from citizens in exchange for money or benefits. The Commission stressed that such practices are fraudulent and will be met with legal consequences.
“NIN holders must never offer their personal data in return for financial incentives. Doing so violates the law and could lead to serious penalties,” the Commission stated.
NIMC also highlighted the risks of identity theft and cybercrime associated with sharing personal information on unverified platforms or with untrusted parties. Citizens were reminded that the NIN is strictly
-
NDIC Begins Liquidation Payments to Pearl Microfinance Bank Stakeholders
The Nigeria Deposit Insurance Corporation (NDIC) has started disbursing liquidation dividends to shareholders, depositors, and creditors of the defunct Pearl Microfinance Bank. This marks a significant step in the resolution process following the bank’s shutdown. Eligible stakeholders can process their claims by visiting any NDIC office from May 26 to July 4, 2025. For those…
-
Dangote Refinery to Receive 5 Million Barrels of U.S. Crude in July
The Dangote Refinery is set to import at least five million barrels of U.S. West Texas Intermediate (WTI) crude oil in July, extending its reliance on foreign crude to maintain production levels at its Lagos-based facility. According to market sources cited in a recent report, the refinery has finalized contracts to bring in approximately 161,000…
-
Expert: New Oil Cost Policies Insufficient to Resolve Sector Challenges
Nigeria’s latest executive measures to curb upstream oil production costs may offer limited relief for offshore operations but fall short of addressing entrenched inefficiencies in onshore fields, according to energy expert Kelvin Emmanuel. Speaking on Arise TV’s Business Week, Emmanuel explained that the government’s newly introduced Cost Efficiency Incentive (CEI) primarily benefits offshore production-sharing contract…